Share: One of most anticipated IPOs of 2021 took place Wednesday with Coinbase Global (NASDAQ: COIN) hitting the public markets. The cryptocurrency exchange company opened for trading at $381 a share. An analyst believes shares can go much higher than Wednesday’s opening price. The Coinbase Analyst: BTIG analyst Mark Palmer initiated shares of Coinbase with a Buy rating and $500 price target. The Analyst Takeaways: Palmer called Coinbase the gold standard among digital asset exchanges. Coinbase is seeing rapid growth as the crypto ecosystem expands and its increased use is a tailwind for the company going forward. “We believe COIN, the most popular consumer-facing cryptocurrency exchange in the U.S., is positioned to be a primary beneficiary of the increased adoption of Bitcoin and other digital assets as it continues to scale in the U.S. and internationally,” Palmer said.